Saving Money on Your Prescription Drugs: Good and Bad Ideas

Feel like the bill for your prescription drugs just keeps getting higher every time you go to the pharmacy? You could be right.  Since 1990, U.S. spending for prescription drugs has increased by five times.  In roughly the same period of time, retail prices of medications have risen almost 8% every year -- three times higher than the rate of inflation.

If you're trying to save on your prescription drugs, you're hardly alone.  The good news is that there are a lot of popular, safe, and effective ways to do it.  The bad news is that there are a lot of popular, not-so-safe and not-so-effective ways, too.  To help you sort the good ideas from the bad, WebMD got some advice from prescription drug experts.

Good Idea: Talk to Your Doctor About Switching to a Generic Medicine

One of the smartest ways to get cheap prescription drugs is to switch from a brand name to a generic.  "Generic drugs can offer a huge savings to patients," says Kevin Schulman, MD, professor of medicine and business administration at the Duke University Medical Center in Durham, N.C.  On average, brand-name drugs are three times more expensive than generic drugs.

"Depending on the drugs you take, you could conceivably save hundreds of dollars a month by switching to generics," says Richard Sagall, MD, president and co-founder of NeedyMeds, a Philadelphia nonprofit that provides information about financial assistance for drugs.

There are a lot of generic options, too.  "Sixty percent of all prescriptions in the U.S. are generic," Schulman says.  More are available all the time. "Some of the generics we have now were brand name drugs just two or three years ago," Schulman tells WebMD. So when you go to the doctor next, ask if any of your high-priced prescription medicines now have a generic equivalent. 

Bad Idea: Switch to an Alternative or Herbal Medication

The magazine ads and infomercials can be pretty tempting.  Why not try out an "herbal" or "natural" alternative to high-priced prescription drugs? But while they might be cheaper, they might also be completely ineffective or, worse, dangerous.

"It's really confusing for people, because they just don't realize that herbal products are not regulated at all," says Schulman.  Despite whatever claims are made in the ads, no one is testing these supplements to see if they work.

"Using one of these supplements to treat a serious medical condition could be life-threatening," says Schulman.  Don't do it.

Good Idea: Get Higher-Dosage Pills and Split Them in Half

Some medications cost about the same, per pill, no matter what the dosage.  An 80-milligram tablet of a drug might cost no more than a 40-milligram tablet.  This quirky pricing gives you a big opportunity to save.  Your doctor could write a prescription for double the dosage you actually need.  Once you get the pills, you just split them in half with a pill cutter.  And, presto, you've got two pills for the price of one -- more or less.

However, not all medications can be split safely.  For instance, drugs that have special coatings or are slow-release should never be cut in half: you could wind up with side effects or a dosage that's too high.  Your doctor will be very cautious in suggesting which of your pills can be cut, if any.

Bad Idea: Halve Your Dosages

This is another do-it-yourself solution to saving on prescription drug costs, and it's a really bad idea.  People try to stretch out a prescription by splitting their prescribed dose in half, or taking it every other day instead of every day.  Sure, they think, it's not ideal, but it saves money and gives them at least some of the drug's benefit, right?

Wrong.  It might have no benefit.  It might even be dangerous.

"Reducing your dose, without talking to your doctor, is really one of the worst ways to save money," says Schulman. "Some medications can be life-threatening if you don't take them exactly as directed, or if you stop taking them abruptly." In some cases, it might be safer not to take the medicine at all than to take half the dose, says Sagall.

You should never stop taking any medication without first talking to your doctor.

Good Idea: Use a Mail Order Pharmacy for Prescription Drugs

Getting discount prescription drugs from mail order pharmacies is another good way to save money.  If you have insurance, your health plan might work with a company that provides cheaper mail order prescription drugs in bulk.  Other mail order pharmacies cater to the uninsured; provided you meet the income eligibility, you can get drugs at steep discounts. Mail order pharmacies save you trips to the pharmacy, and that's especially important for people who are homebound.

Bad Idea: Use an Internet Pharmacy Advertised in an Email

You have to be very cautious when it comes to Internet pharmacies, says Schulman.  No matter how slick the site looks, it might be phony.  Some fraudulent online pharmacies sell expired or counterfeit medicines. The FDA says you should never buy from an Internet pharmacy that is outside the U.S. or that does not require a prescription.  And even if a pharmacy meets those requirements, you should still be wary. 

Good Idea: Review With Your Doctor All of the Prescription Drugs That You Take

Over the years, it's easy to rack up a lot of prescriptions.  That's why, every once in a while, it's important to take stock of all the medicines you take with your doctor, Schulman says. Maybe you don't need them all anymore

Good Idea: Review With Your Doctor All of the Prescription Drugs That You Take continued...

For instance, you might be on several prescription drugs for the same condition. Your doctor might have tried one, but it didn't work well enough. So later, he or she added a second, and then a third. You assume that you need all the pills and take them dutifully. But maybe only the third one is helping, while the other two do nothing but cost you money.  

So at your next doctor's visit, bring in a list of all the medicines you take -- or the medicine bottles themselves -- and have your doctor look them over.  Cutting out uneeded medicines will not only save you money, but it will reduce hassle and lower the risk of drug interactions.

Bad Idea: Cut Out the Prescription Drugs That You Think Are Less Important

It's one thing to confer with your doctor about which medicines you really need and which you don't.  But deciding on your own is a terrible idea. Unfortunately, lots of people do it anyway.

"This happens all the time," says Sagall. "People just make a decision without any input from a doctor. They might decide to treat their high blood pressure, but stop bothering with their diabetes." Obviously, the results of not treating an illness could be dangerous or even fatal.

Good Idea: Get Low-Cost or Free Prescription Drugs From a Pharmaceutical Assistance Plan

If you have a low income, there are hundreds of different programs available that might get you cheap or free medications.  One group that provides information about these programs is NeedyMeds at www.needymeds.com.

Another is the Partnership for Prescription Assistance (PPA), a national program sponsored by pharmaceutical companies at www.pparx.org. "Since the program started in 2005, the PPA has helped more than 4.2 million people in the U.S. get drugs for free or nearly free," says Ed Belkin, a vice president at the Pharmaceutical Research and Manufacturers of America (PhRMA.)  Over 2,500 different medicines are available through the program.

Bad Idea: Get Free Prescription Drugs From a Relative's Medicine Cabinet

"Taking other people's medication is a really bad way to save money," says Sagall.  The dangers should be obvious. You're not a doctor.  You don't know what you're doing.  The pills that help one person might not help you. Taking a drug that wasn't prescribed for you could cause serious interactions with other medicines you take. Also, once a bottle has been kicking around for a while, how do you know if the pills inside it are actually what's on the label?

There's another problem with taking pills from a dusty old bottle found in the back of a medicine cabinet: they're often expired.  Medications tend to lose their effectiveness with time. "Usually, taking an expired drug won't hurt you," says Sagall. "But it may not work at all either."

Good Idea: Work With Your Doctor

"Talking to your doctor is the most important thing you can do if you want to lower your prescription drug costs," says Sagall.  

There's so much a doctor can do to help cut medication costs.  He or she can prescribe you a prescription for similar but cheaper medications, for instance.  And he or she will have access to information -- about generic drugs, assistance programs, or free samples -- that you may not.

Bad idea: Figure It Out on Your Own

Many people clam up when they're in their doctor's office.  They feel intimidated and don't like to ask questions.  That's especially true when it comes to finances.  They feel awkward and embarrassed about admitting that they're having trouble affording their medicine. 

But you have to be honest, experts say.  "If you don't tell your doctor that the costs of your prescription drugs are too high, he or she might just assume that it's not a problem for you," says Schulman.  "You shouldn't be embarrassed, since so many other people are in the same position."

So speak up.  And don't resort to using any of the risky ideas outlined above. There are lots of great ways to save on your prescription drug costs that don't require you risking your life. Just ask your doctor for help.